Cryptocurrency has climbed more than 40% since US election on bets president-elect will bring in pro-crypto regulation
Bitcoin has surged above $100,000 for the first time, extending a dramatic rally as investors bet on greater political and regulatory support from US president-elect Donald Trump. The price of the world’s largest cryptocurrency has climbed more than 40 per cent since Trump’s November election victory. The Republican has previously vowed to make the US “the bitcoin superpower of the world”.
“Interest in is pretty much unstoppable,” said Geoff Kendrick, global head of digital assets research at Standard Chartered. The cryptocurrency’s rise past $100,000 marks a dramatic change in fortune for the sector from just two years ago, when the collapse of FTX in late 2022 spurred a crisis in the market and sent the price of bitcoin plummeting to just $16,000. Binance, the world’s biggest crypto exchange, was fined $4.
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